Bombay HC Allows Condonation of 24-Day Delay in Form 10B

Mirae Asset Foundation Vs PCIT-6 (Bombay High Court) In a recent judgment, the Bombay High Court has quashed an order by the Principal Commissioner of Income Tax (PCIT) that denied a charitable trust its tax exemption by refusing to condone a 24-day delay in filing a statutory form. The case, Mirae Asset Foundation Vs PCIT-6, underscores the judiciary’s view that tax authorities should adopt a judicious and equitable approach when dealing with minor procedural delays. The dispute arose after the PCIT, in an order dated December 11, 2024, dismissed an application from the Mirae Asset Foun...